HOUSING DEVELOPMENT DIRECTOR

Description

HOUSING DEVELOPMENT DIRECTOR

The Housing Development Director (HDD) will lead and implement SEI’s real estate development goals, objectives, and priorities while developing a robust pipeline of affordable rental and homeownership developments. The HDD will direct all phases of real estate development, including but not limited to deal origination, financial feasibility, and funding strategies through construction, stabilization, and occupancy. Projects may include sole SEI development or joint venture projects with other developers. This position reports to the Chief Compliance Officer. The following are specific areas of responsibility:

Job Description:

• Financial Analysis: Manage project proforma, development cost, and cash flows; research and understand funding sources.
• Acquisition: Perform financial analysis and due diligence for new development opportunities, manage underwriting and cash flow analysis
• Government Subsidy: Compile detailed financing applications for state and local funding programs such as low-income housing tax credits and tax-exempt bonds.
• Planning and Design: Manage consultant team, including architect, engineers, energy, and other consultants. Oversee deliverables and keep the team on track.
• Entitlement Processing: Manage the application process for and obtain land use approvals and building permits. Manage the preparation of community outreach documents and attend community outreach meetings.
• Operations: Prepare budgets and schedules, cash flow projections, deal memorandums, financial forecasts, and strategic plans.
• Construction: Coordinate loan draws, forecast project budgets and cash flows, and manage projects. Attend draw meetings and coordinate with the Construction Director.
• Lease up/Marketing: Management of the lease-up process to meet lease-up targets; coordinate with property management staff or company.

PRIMARY Job Responsibilities

• Manage all phases of development for construction projects, including reviewing feasibility analysis, obtaining local approvals, developing and maintaining proformas, and managing the design and construction phases.

• Facilitate development partnerships among community residents, community-based organizations, and local jurisdictions.
• Conduct all physical, financial, and operational due diligence on properties during feasibility, acquisition, and pre-development phases.
• Prepare financing applications to public sources such as LIHTC, City of Portland Housing Programs, Metro Housing Bond Financing, low-income housing tax credits, new market tax credits, historic tax credits, Oregon Housing Community Services funding sources, and charitable and private lenders.
• Cultivate relationships and solicit development proposals in partnership with private and non-profit developers.
• Develop and maintain positive working relationships with public jurisdictions and financing entities.
• Creatively explore and propose new funding scenarios that blend public resources with private market financing strategies.
• Negotiate terms and ensure the development and execution of all necessary project documents, including financing documents, purchase and sale agreements, development services agreements, and design and construction contracts.
• Assure compliance with agency and funder procurement guidelines for all contracts entered into during development process. Review and authorize budgets for individual projects. Assign oversight of disbursement of project funds during construction.
• Assemble and oversee the development team, including consultants, architects, and construction contractors.
• Coordinate pre-development and development activities including but not limited to:
• Lender relationships
• Legal documents
• Financial planning, including development and operating budgets with multiple sources
• Construction documents
• Ongoing management of project financials
• Monitor and track construction progress and cost to ensure timely project completion.
• Identify and manage qualified architects, engineers, environmental firms, contractors, and other professionals as needed.
• Completes feasibility and other due diligence work related to site investigation, including ordering environmental reports, surveys, capital needs assessments, and soil reports
• Oversee compliance with City, State, and Federal oversight agencies and private investors/lenders.
• Coordinate responses to RFPs, RFQs, and RFIs collaboratively.
• Acquire properties from public agencies as well as from the private market.

Qualifications

QUALIFICATIONS:

• Bachelor’s degree in real estate development, finance, business, urban planning, architecture, construction management, or related field. Master’s degree preferred.
• A minimum of seven years in affordable housing and market real estate development. Ten years is preferred.
• Advanced knowledge of local and state real estate regulations and planning processes
• Advanced knowledge of bonds and public financing for affordable housing development.
• Expert knowledge of affordable housing development processes and procedures from concept through occupancy
• Expert knowledge of real estate lending practices and financial pro forma modeling
• Expert knowledge of LIHTC rules, regulations, policies, and best practices
• Advanced skill in working in a fast-paced, multiple simultaneous task environment, managing a variety of relationships with demonstrated ability to adapt to unforeseen circumstances and competing priorities
• Expert skill in interpersonal communication, collaboration, analytical, and problem-solving skills
• Expert ability to manage timelines, contracts, and correspondence using digital tools and networked file systems
• Advanced ability to collaborate with governmental entities, consultants, developers, and other vendors
• Expert ability to work both independently and as part of a team
• Must possess a current driver’s license, access to a vehicle, qualify as an approved driver as designated in SEI's Insurance Motor Vehicle Guidelines; and maintain vehicle insurance coverage of a minimum of $100,000/$300,000 personal auto liability coverage.

Salary : $120,000 - $175,000